Elevator Address

2518 Lockhead Rd
North Gower, ON
K0A 2T0

Contact Info:
Office: 613-489-0956
Fax: 613-489-0957

Printable Page Canadian Market News   Return to Menu - Page 2 3
Howard Leaman                                                     Jan 22/20

     Canola traded on both sides of unchanged again on Wednesday, but for
the most part was stronger and ended higher. The market was supported by
weakness in the Canadian dollar and spillover buying from soy oil, palm oil
and to a lesser extent European rapeseed. European rapeseed ended mixed
with the two nearby contracts lower, but other positions higher. The
Canadian dollar lost almost half of a cent against the U.S. dollar on
Wednesday following the Bank of Canada's decision to leave its interest
rates unchanged. More importantly, the Bank opened the door to future rate
cuts sighting expectations of a slowdown in the economy that started last
     The buying in canola was curbed by an apparent reluctancy to break
prices out of their consolidation pattern on the price charts. Weakness in
soybeans and meal also limited the buying in canola. 

                                   Resistance     Support
              Mch Canola           483.10         474.10
              May Canola           491.60         483.20

DTN offers additional daily information available free through DTN Snapshot – sign up today.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN